Advertising company Publicis Groupe is launching a fund that will invest tens of millions of dollars in 90 startups

Publicis Groupe, the French advertising agency holding group, is
celebrating its 90th anniversary with the launch of a fund and
mentorship program that is expected to raise tens of millions of
dollars for 90 startups.

Publicis is setting aside €10 million ($10.9 million) for its
Publicis90 project and will invest between €10,000
and €500,000 in each of the 90 startups it selects as part
of the program. That might not sound like a lot compared to big
venture capital funds, but Publicis is calling upon clients,
partners, and media companies to match each investment —
so €500,000 could easily turn into the single-digit
millions.

To take part, startups from any industry — from ad tech to
fintech — need to submit their idea to a dedicated website.
Publicis employees will then vote for the startups they think
best-deserve the awards through a Facebook-esque "like" system.
The projects submitted will be presented anonymously, in-part due
to the fact that Publicis employees will also be encouraged to
enter.

The startups with the most likes will then be assessed by a
regional jury of Publicis executives and partners, who will draw
up a shortlist, before the final selection is made by a global
jury.

In addition to funding, the 90 winning startups will receive a
year of mentorship from Publicis senior management in the areas
of marketing, communications, management, and technology. Also
participating is Iris Capital a VC joint-partnership between
Publicis Groupe and telecommunications company Orange, which will
provide business advice. Publicis is launching an internal
division to support the project, led by Maxime Baffert, CEO at
Publicis digital agency Proximedia Europe.

Speaking to Business Insider, Publicis Groupe CEO Maurice Lévy,
said: "When we were looking to see what kind of celebration we
would be doing [for the 90th anniversary of the company,] you
have all the cliche, typical, coffee table book, a film, some big
event with all the stories, looking back to the Groupe in the
'30s, '40s, '50s, '60s ... the celebrating part is nice but the
best way to celebrate a company like ours, which has always been
confronted with innovation, and reinvention, and trying to be
ahead of the curve should be something for the future rather than
the past."

A "first"

Publicis Groupe

Lévy said he believes the Publicis90 platform represents a
business first.

"I believe nobody has dared to do something like this to support
90 projects," he said. "Nobody has dared to go after that big a
number. It's complicated to select and a huge undertaking ... we
want to do something quite massive in order that it will be
noticed both from inside the group and outside all people who
have a project see we are really committed to the tech and
digital space and that this is something important."

We asked why startups will be persuaded to enter their projects
into Publicis90, rather than chasing money from VCs, with bigger
funds.

Maxime Baffert will lead
the Publicis90 project.LinkedIn

Lévy said: "What we are giving is an acceleration in their
development, because they are receiving money, and what we are
asking for is less complex than what VCs are asking for. Two,
recognition of their idea, they can claim they were selected —
like people who have been a laureate, or won a contest, or
recognized through an MBA. They went through a process, were
tested, and selected against other ideas ... and three, our
executives and team will support in terms of management, tech,
and have support from the Groupe for a full-year — intellectual
capital for their own development."

The number 90 is significant for Publicis as it looks back on its
history, but we asked whether the ambitious number could lead to
some projects being arbitrarily funded just in order for it to
reach the landmark.

Lévy responded: "We are extremely open in the way we are
operating because we don't want to have our hands tied and award
something we don't like, or not award enough €500,000 investments
because we have bigger numbers. We prefer to be open and if we
have instances of not what we planned, that's not a problem. If
we have for example, only 72 good enough [startups,] then we will
decide to award the 72 and complete down the round. But if we
have 120, we will award only 90."

A new "landmark" technology expo and conference to be held in
Paris

The 90 startups will be invited to participate in a new tech expo
and conference Publicis is launching in partnership with Groupe
Les Echos called Viva Technology Paris, which will take place
from June 30 to July 2, 2016.

Lévy believes that despite the plethora of other technology
conferences and expos in Europe and beyond, Viva Technology Paris
will become a "landmark event," standing out from the likes of
CES, Web Summit, Le Web, and TechCrunch Disrupt.

He describes Viva Technology Paris as a "combination of a
micro-CES and forums." There will be an exhibition, "top notch
speakers," it will be open to the public, and its platinum
sponsors will stage labs at the event. There, startups will work
on a project and will be awarded by the sponsor with investment
if they build something new and desirable.